What is Libra coin?

Libra (LIBRA) Coin: Facebook’s Cryptocurrency. The social media giant Facebook has revealed plans to create a native cryptocurrency named Libra. According to its developers, the company plans to create an international currency and financial infrastructure that will be used by billions of people all around the world. What is Libra Crypto?

What is Facebook Libra?

Facebook says Libra is a “gglobal currency and financial infrastructure”. In other words, it is a digital asset built by Facebook and powered by a new Facebook-created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies. Why is it called Libra? The name Libra comes from the basic Roman measurement of weight.

Is Facebook's Libra a stablecoin?

Libra reserve management. Facebook’s crypto coin is maintained by its reserves (“Libra Reserve”), which consist of a basket of low-volatility assets that is structured to maintain its value relatively stable. However, Libra is not intended to be a stablecoin, and its value isn’t linked to a single fiat currency.

What is Facebook's new digital currency Libra?

On Tuesday, Facebook announced a digital currency called Libra that will roll out for use in 2020 and allow the platform’s billions of users across the globe to make financial transactions online.